Note that the title does not read: “Bing just released a Foursquare killer for Windows Phone.” They didn’t. Instead, Bing has released a new application called ‘We’re In’ that has the potential to let each of the four WP7 users in every city hang out together.

Actually, people who don’t have the application (read: everyone who does not have a WP7 handset, so nearly everyone), can in fact use its mobile web version, but that is not nearly as much fun.

Snide comments aside, We’re In is a well-appointed application that is designed to let groups of friends share their locations with one another, and execute meetups. Status updates can also be sent to people who are currently ‘in’ the group, bringing an almost group-sms function into the app.

We are of course bamboozled as to why Bing decided to build this application, but there you have it. Now, here is a short visual walk through:

Now the real point: As the application is for Windows Phone, no one can really use it as there is not yet a ‘critical mass’ of WP7 users (using a different phone and being forced to go from a text to its browser, and back again is not as compelling as the app version, so we honestly don’t think that people who are not on Windows Phone will take part in its use). However, Bing already has a solution in mind: “‘We’re In’ is available as a Windows Phone application. We’re working on bringing this app to more devices, so stay tuned!”

Yes, Bing is going to be bringing this location-based application to other platforms. In other words, hello soon, Android and iOS. TNW Microsoft cannot for the life of ourselves decide why Bing and Microsoft decided to build the application, unless the company tried to buy Foursquare and was rebuffed.

If you have a Windows Phone, you can snag the app here. If you don’t have a Windows Phone, just be patient.